由盈转亏！光伏辅材企业明冠新材业绩下滑，净利润同比暴跌713.54％

Core Viewpoint - Mingguan New Materials Co., Ltd. continues to face significant challenges in the first half of the year, with major declines in key financial metrics, including a 36.85% drop in revenue and a net loss of 52.71 million yuan, reflecting a 713.54% year-over-year decline [2][6]. Financial Performance - The company reported a revenue of 382 million yuan in the first half of the year, down from the previous year [2]. - The net profit attributable to shareholders was a loss of 52.71 million yuan, with a significant decline in non-recurring net profit, which was a loss of 54.72 million yuan, marking a 974.65% decrease [2]. - The net cash flow from operating activities was -166 million yuan, a decrease of 373.16% compared to the same period last year [2][8]. Subsidiary Performance - Eight subsidiaries significantly impacted the company's net profit, with the highest revenue from the Vietnam subsidiary at 207.15 million yuan, but this represented a sharp decline from 393.95 million yuan in the previous year [4]. - Several subsidiaries, including Suzhou Jiaming and Shenzhen Mingguan, reported no revenue in the first half of the year [4]. Market Dynamics - The company's sales volume of solar cell backplanes dropped by over 70%, primarily due to the decline in single-glass component usage and intensified price competition [6][7]. - The overall sales volume of photovoltaic component packaging materials decreased by 16%, with revenue from these materials falling by 39% [6]. - The price of backplanes has decreased by approximately 10% compared to the previous year, reflecting the competitive market environment [6][9]. Industry Trends - The market concentration for backplane production has increased, with only a few major players remaining operational, leading to a more stable market structure [8]. - The overall operating rate for backplane manufacturers has decreased, with many companies shutting down production [8]. - The price of backplanes is expected to remain stable in the short term, with profitability unlikely to improve significantly due to the current market conditions [9].